Festive Finances Day 2 - Credit for Household Items

Posted by: Eden Morrison on October 24 2017 | Tagged:

For day two of Festive Finances we will be looking at credit as an option for household items.


Your washing machine might have broken, you're in need of a new carpet, or maybe you are looking to buy a TV for the house as a Christmas gift. Whatever the reason, when looking to purchase new household items there are a few things to remember, to ensure you are getting the best deal for your money.


Buying upfront in cash will be the cheapest option, and you can walk away with the item the same day - and second to this getting products through store credit can also be encouraged - as many can offer 0% interest for a limited amount of time. Depending on the price of items, these are not realistic options for many people. What happens then? 


Pay weekly stores can look very appealing at this point, with low weekly payments and a great range of products.. but remember that there are some things to take into consideration before taking out credit on a product with these type of lenders. Interest rates can be very high for these products, resulting in you paying a lot more for something than what is necessary. Furthermore, it is usually compulsory to take out insurance for these products, which will be more expensive than a basic home goods insurance policy. On top of this, the product is not yours until you make the last payment.

Taking out an affordable loan can help to cover the costs of new appliances, which could work out cheaper than using a pay weekly store. Compare our rates and apply for a loan online.


FF Day 2


Another great option which will save you money is to buy items and appliances through organisations such as Fair for You. Fair for You provide credit in similar ways to weekly payment stores, but at an affordable and realistic price.


FF Day 2 1


Did you miss Day 1 of Festive Finances? Take a look here to see what we have to say on Responsible Borrowing.